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USDCHF: high rise

Fundamental analysis:

USD/CHF remained volatile around 0.88439, Credit Suisse: Credit Suisse Funds AG has decided to cancel its IPO originally scheduled for the fourth quarter of 2023. This was due to another drop in trading volumes in the listed Swiss real estate fund market compared to last year.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum has risen strongly at a high level, the short-term bullish sentiment is shrouded, the market bulls continue to climb, the MACD indicator is in the bullish area and is pulling up strongly, and the MACD indicator is oscillating above the 50 balance line;

Resistance levels: 0.88535 0.88614

Support levels: 0.88298 1.88210

Trading strategy: Bullish above 0.88393, target 0.88535 0.88614
Alternative strategy: bearish below 0.88393, target 0.88298 1.88210

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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